JPX-Nikkei400 / JPX-Nikkei Mid Small
Aim of the Index
Japanese stock indices for mid and small cap equities are mostly based on indicators of liquidity, such as market capitalization and trading value, and it is not common to use capital efficiency and financial status as indicators for index constituent selection.
The new index applies the concept of the JPX-Nikkei Index 400, which is an index comprised of highly attractive listed companies, to mid and small cap equities by selecting companies that focus on capital efficiency and investor-oriented management, and aim to foster greater awareness of such issues among corporate executives. The index will also aim to meet the needs of investors looking to invest in such companies.
When selecting issues, we will also consider the liquidity of each issue in the market to facilitate the actual use of the new index for asset management.
Main Points of Index
| Index Name | JPX-Nikkei Mid and Small Cap Index Abbrev.: JPX-Nikkei Mid Small |
| Index Provider | JPX Market Innovation & Research, Inc., and Nikkei Inc. |
| No. of Constituents | 200 issues |
| All the eligible constituents | Common stocks whose main market is the TSE Prime Market, Standard Market, Growth Market |
| Constituent Selection/ Review Method |
Constituent selection and review will be conducted as follows. [Selection Criteria] Constituents are selected according to the following process and criteria.
Results of the constituent review become effective on the last business day of August each year with the last business day of June as the base date for selection. Even though the number of constituents in JPX-Nikkei Mid Small may decrease between periodic reviews due to the removal of constituents by means other than the periodic review, no supplementary inclusions are made to meet the intended number of constituents (inclusions to meet the intended number of constituents are only made during the periodic review in August). |
| Calculation Method | Free-float adjusted market capitalization-weighted (with 1.5% cap) |
| Start of Calculation | March. 13, 2017 Real-time dissemination (per sec) of the index via Tokyo Stock Exchange’s Market Information System |
| Base Date/Base Point | Aug. 31, 2016 / 10,000 points |
Constituents List
| Constituents (As of February 28, 2025) |  |
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End of month constituents data for the index will be updated normally after 4:20 pm (Japan time) on the second business day of each month.
In time of periodic review, end of month constituents data for the index will be updated normally after 9:00 am(Japan time) on the last business day of each month.
Constituents List with Weight
| Constituents List with Weight | Nikkei Indexes |
Other Referential Data
| Factsheet | Nikkei Indexes |
| Data regarding Periodic Review | |